Ghana, Cote d’Ivoire close to harmonizing trading system

The Chief Executive of Ghana Cocoa Board, Joseph Boahen Aidoo, has said Ghana and Cote d’Ivoire are close to harmonizing their system of trading cocoa at the world market to give some control to the producers at the cocoa market.

The harmonization will help the two countries in their quest to take a strong position on deciding the price of cocoa at the world market.

The two countries have been collaborating in recent times on how to improve the income of farmers in the two major cocoa producing countries.

Speaking as a panelist at the ongoing World Cocoa foundation meeting in Sao Paulo, Brazil, Mr Aidoo said a technical team has been set up between the two major cocoa producing countries to come out with the true cost of production per tonne and this they believe will serve as the basis of setting the floor price.

“It’s unethical, unfair and we cannot talk about the sustainability of the industry when we are not paying the commensurate and rewarding price to farmers,” said Mr Aidoo.

Mr Aidoo further indicated that all other producing countries will be engaged to be part of such a major revolution in the industry.

The world Cocoa foundation partnership is a meeting of all major and minor stakeholders in the cocoa industry.